Abra Introduces New Platforms for Private Clients in Crypto Wealth Management

Abra Launches Abra Prime and Abra Private Platforms

Crypto wealth management firm Abra has introduced two new platforms – “Abra Prime” and “Abra Private” – catering to different client segments. The U.S. Securities and Exchange Commission has granted approval for Abra to operate as an investment advisor.

Abra Prime and Abra Private Platforms

Abra Private is designed to offer tailored services for private clients, family offices, and trusts. On the other hand, Abra Prime targets hedge funds, venture capital firms, crypto infrastructure companies, and institutional investors.

Strong Demand for Bespoke Digital Assets

The launch of these platforms comes in response to a growing demand for bespoke digital asset solutions among affluent clients. Abra’s integrated platform combines over-the-counter (OTC) trading, spot and options borrowing, lending, staking, yield services, and asset management into a comprehensive offering.

Abra Capital Management LP Approval

Abra’s subsidiary, Abra Capital Management LP, has received approval from the U.S. Securities and Exchange Commission to operate as a registered investment advisor. Bill Barhydt, the Founder and CEO of Abra, expressed excitement about the company’s evolution and its focus on digital, open, and borderless financial services.

Settlement with Texas State Securities Board

In January, Abra reached a settlement with the Texas State Securities Board following allegations of securities fraud and deception. As part of the agreement, Abra will reimburse assets invested by Texas residents and wind down its U.S. retail operations. Clients with balances exceeding $10 have been notified to withdraw their assets, with unclaimed funds being converted to fiat currency for distribution.